Living for today - Planning for Tomorrow
In May, inflation hit a 40-year high of 8.6%. The cost of essentials like gas and groceries has risen sharply, so we’re all losing purchasing power and feeling the pinch. This high-inflation environment is also eroding the value of our savings. Bank accounts don’t offer enough interest to outpace inflation, so we’re effectively losing money by parking our cash in savings accounts. With economists predicting
If you’ve noticed that you’re spending more than ever on gas and groceries, you’re not alone. Over the past year, consumer prices have increased by 5.4%. Annual inflation usually sits at around 2%, so this is a big change for all of our budgets. Although wages have been increasing in many industries due to labor shortages, experts say that they may not be rising fast
You’re not the only one spending more money on Halloween every year — and inflation isn’t the only reason. Jackie CohenJackie Cohen is an award winning financial journalist turned turned financial advisor obsessed with climate change risk, data and business. Jackie holds a B.A. Degree from Macalester College and an M.A. in English from Claremont Graduate University. www.jackiecohen.xyz
